We propose a new process of biodiesel production that utilizes biodiesel as an extractant for lipid extraction from fresh microalgae. Biodiesel-based extractant showed high lipid extraction efficiency from dried Chlorella. The efficiency obtained from the biodiesel-based extractant was comparable to the chloroform/methanol method, while the required amount of solvents was smaller than the chloroform/methanol method. Furthermore, fatty acid methyl esters displayed successful penetration through the cell membrane of wet algae in an aqueous environment, and this result suggests that the biodieselbased extractant has potential for wet extraction.